>The article also ignores the fact that during a period of lowering rates (assuming equity in the house), one can often refi to those lower rates This fact is

>The article also ignores the fact that during a period of lowering rates (assuming equity in the house), one can often refi to those lower rates This fact is one of the central themes of the article. >If the market craters or rates go up, unless one is speculating, it doesn't matter - the rate is locked. Another central theme is that the housing and labor markets are highly related. Homeowners are least able to relocate for opportunity when it is most important to do so.